the only thing to take away from this is the last lines concerning groth,,they still plan to achive 90% groth year over year,and also even through they are taken down this years numbers(ouch) I can't sallow this one but THEY STILL EXPECT TO MAKE THIS YEARS FULL EPS NUMBERS am I reading right !I think their full of crap I just hope I get my money back before it all comes out ...
B.W.12/19/02GRAPEVINE, Texas--(BUSINESS WIRE)--Dec. 18, 2002--GameStop Corp. (NYSE:GME), the nation's largest video game and entertainment software specialty retailer, today revised earnings expectations based on business trends to date through the holiday season.
Based on these trends, we are now forecasting comparable store sales to be between -4% and -6% for the fourth quarter, with quarterly earnings per share between $0.48 and $0.52 compared to earlier forecasted comparable store sales of between 8% and 12%, and earnings per share of between $0.62 and $0.68. This brings full year earnings per share guidance to between $0.83 and $0.87, which is within our original guidance issued at the beginning of the fiscal year.
The combination of having to exceed our own 59% comparable stores sales from the prior year, coupled with the fact that there are six fewer shopping days in the season, and the effects of a weak economy, have resulted in a revision of our quarterly expectations.
Despite the revised forecast, we are now projecting total sales growth for the year of between 20% and 22%, comparable store sales for the year between 12% and 14%, with annual earnings growth of approximately 90% over the previous year.